Reply to Our EFC is 500,000????

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our EFC is 230k.  We don’t even make that much 300k with both parents working + 2 million assets[/quote]

That seems about right? They expect you are able to pay about 40% of your income + 5% of your assets each year.

Whether you WANT to pay that much is a different story. And you aren't expected to pay 40% of your income each year - they assume at that level of income you had the ability to save more than someone earning just $45,000/year.[/quote]
DCUM seems to think the formula should be “what would a UMC family be able to pay without any lifestyle adjustments.” In reality it’s more of a “what would be possible if it were really really important to you” situation.

Making personal sacrifices for your children isn’t for everyone. But don’t get mad that you are being forced to be honest with yourself about it. [/quote]

Yes, and given you have 18 years to save there really is no excuse not to have college savings with that HHi and assets.  [/quote]

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